The Indian rupee appreciated by 12 paise to Rs 45.22 per US dollar in early trade on the Interbank Foreign Exchange today as the dollar weakened against other overseas currency rivals amid a rebound in the domestic stock market.
The rupee had ended 7 paise higher at Rs 45.34/35 against the US dollar in the previous session on Friday, helped by foreign capital inflows. The forex market remained closed yesterday on account of Independence Day.
Dealers said dollar weakness against the euro and some Asian currencies overseas and a recovery in the domestic stock market helped the rupee to strengthen.
Meanwhile, the Bombay Stock Exchange Sensex gained 187.37 points, or 1.11%, to 17,027.00 points in opening trade today.